CoinMeta data: According to the South China Morning Post, HSBC will launch the Hong Kong dollar stablecoin HSBC Redcoin in phases to over 3.3 million users of its payme app starting from October 23. The first phase will support instant transfers between payme users and payments to merchants. Users can enable the Redcoin wallet after updating the app, without the need for additional account opening or meeting minimum balance requirements. The full rollout is expected to be completed by the end of this weekend. HSBC also plans to fully integrate Redcoin into its Hong Kong mobile banking app by the end of the year, allowing users to instantly subscribe to tokenized money market funds and other assets starting from a minimum of HKD 100. In the future, this will be extended to tokenized gold and third-party fund products as well.